Uncertainty is in the air right now, and people are panicking.
Now more than ever, it’s important to be nimble, creative, and do everything in your power to run a business that THRIVES during uncertainty.
I’m happy to see so many of you actively making moves, whether it be acquiring a small company — such as a key vendor — or ramping up SEO to secure better “online real estate” while your competition is distracted.
Determining the right move for your business will depend on your industry. Our marketing agency clients are in the industrial sector, and for the most part, fall into one of three categories:
Crazy Busy — your services are in higher demand due to everything going on. These have mostly been in the medical, food production, and logistics sectors.
Business As Usual — your services are more or less in demand the same as always.
Pained but Patient — you have seen a dip the past couple weeks but expect it to be temporary
One opportunity during the 2008 recession was that the price-per-click for Google Ads decreased. For example, ad clicks that previously cost $1.50 each were reduced to $1.00. That allowed businesses that stayed the course with PPC to drive more traffic for the same budget.
Please also keep an eye out for creative new ways to prospect. Now is your chance to stand out! It can be something as simple as sending a book to a prospect with a handwritten note about why you thought they might enjoy it. Or find an excuse to call them so there’s a human connection now when people need it most.
Let us know how Key Marketing can help too. We’re committed to boosting your online presence & customer communications to set your business apart from the pack.
“On average, increases in marketing spending during a recession have boosted financial performance throughout the year following the recession.”
– Harvard Business Review, How to Market During a Downturn
Everyone has the ability to hustle
You may be presented with a unique opportunity to gain market share.
So grab the bull by the horns and take it!